Market Size of South America Offshore Seismic Survey Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Offshore Seismic Survey Market Analysis
The South American offshore seismic survey market is expected to register a CAGR of more than 5.5% during the forecast period.
The market was negatively impacted by the COVID-19 pandemic in 2020. Presently, the market has reached pre-pandemic levels.
- Over the long term, factors such as increasing demand for seismic technology in offshore oil production and increasing demand for offshore wind projects in energy transition are expected to drive the market studied during the forecast period.
- On the flip side, increasing total expenditure on exploration due to high seismic survey costs is expected to hinder market growth during the forecast period.
- Increasing advancements in seismic survey technology are expected to create immense opportunities in the South American offshore seismic survey market soon.
- Brazil is expected to witness significant growth in the South American offshore seismic survey market during the forecast period.
